1. Bill Folkes says

    I have written to you before on a couple of occasions regarding a topic you discussed in this blog related to in-service transfers. There is a lot of controversy on whether in-service transfers are allowed, especially when you are speaking with a plan administrator. Perhaps you should do a segment on why the IRS allows in-service transfers. They are not just a done a deal even if your plan administrator allows it. Have done a lot of research on this and would be more than happy to connect the dots for you.

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  2. Jack says

    a. Are there instances where a husband and wife should not do a joint life time annuity but instead do separate individual annuities?
    b. Does an age disparity between a husband and wife influence the decision for doing a joint time time annuity or just two lifetime income separate annuities since the withdrawal income percentage is calculated on the youngest spouse?

    Thank you.

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    • says

      Jack great question & nice to hear from you.
      a. Are there time when spouses should do separate annuities – yes (for many reasons) but this would be the minority decision of my married clients.
      Certainly also when using qualified money you are not allowed to do joint as an owner however it is still allowable on most annuities to have a joint spouse payee for life.
      b. Age and income need, longevity expectation as well as health of the spouses can all influence this decision. Are both starting income at the same time? This is also a very individual decision based upon your unique situation.
      And, yes there are times it makes more sense to get a higher payout on one person as the owner being the oldest and often the extra income is then used to fund a high death benefit life insurance policy for the younger spouse.

      Please let us know if you need more assistance.

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